Where does the truth lie? A few days back all the newspapers reported the financial troubles of India’s leading airlines. Jet Airways was said to have sacked 1900 employees, most of them probationers, which would result in a savings of $ 1 million per month. This made a media splash as the airline industry was reckoned to be a big employer of the future. Yet it is a fact that the airlines are losing money and must take steps to improve their profitability. Jet and Kingfisher owe more than Rs 2000 crores to India’s oil companies.